Mentioned:
Kraken Robotics is one of the most innovative publicly traded companies in North America focused on underwater robotics. And now, they’re raising a hundred million dollars to go to the next level.
What’s happening:
- Kraken Robotics (TSXV: PNG) has announced a $100M CAD equity financing round
- The new funding round is being led by Desjardins Capital Markets
By the numbers:
- Kraken Robotics will sell 37.6M common shares at $2.66 CAD per share
Why it matters:
- This is the single largest capital raise that Kraken Robotics has ever done in the history of the company
Going deeper:
- Kraken Robotics has been seeing a meaningful uptick in sales of their subsea batteries lately, including recently landing a new $11M CAD purchase order for their SeaPower batteries that are purpose built for uncrewed underwater vehicles
- Kraken Robotics has also been starting to make large scale acquisitions as well, including previously purchasing underwater LiDAR company 3D at Depth for for $17M USD
